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Italian airline Alitalia SpA will actually lose less money this year than estimated, due to lower fuel prices, MF announced without indicating any source.

U.S.-based Citigroup Inc. is planning to downsize its network in six major U.S. and Canadian metropolitan areas by closing or selling some of the branches.

The Romanian Government plans to lower the budget deficit to 5.9% of the GDP in 2010, and the Ministry of Public Finances now waits for the expenditure budget drafts of the other ministries, Finance Minister Gheorghe Pogea said yesterday, as...

The board of "Construcţii Aeronautice Ghimbav" will meet today to discuss possible solutions to the company"s current problems.

Erste Group Bank"s non-performing loans on Eastern European markets from Czech Republic to Romania have peaked and may decline from the middle of 2010 due to a general recovery of the region, Chief Executive Officer Andreas Treichl said.

Romania spent 2980.7 million lei on R&D in 2008, i.e. 0.59% of the GNP, up 0.06% over 2007, according to a press release by the National Statistics Institute (INS).

EBRD will grant Raiffeisen Bank România a EUR 25 million loan, as part of the agreement concluded with the bank"s majority shareholder Raiffeisen International, according to a press release sent yesterday

UniCredit SpA, the largest bank in Italy, is planning to sell its 1.6 per cent in Cam Finanziaria SpA to the Malacalza Family, the newspaper Il Messaggero reported, without naming any source.

The Extraordinary Shareholders" Meeting of ASAM SA Iaşi (symbol: ASAM, listed on the Rasdaq section of the Bucharest Stock Exchange) decided to take out a short term EUR 3 million loan from Intesa Sanpaolo Bank România SA, in order to...

According to a report on retail financial services by the European Commission, there are widespread problems with the way banks inform and advise their customers.

The Competition Council investigation concerning a possible unlawful agreement among entities operating on the banking and interbank market is far from a conclusion, one year after it started, representatives of the Council informed.

Patrick Gelin, President of Banca Romana pentru Dezvoltare (the Romanian Development Bank, BRD) - Groupe Societe Generale, the second largest bank in Romania, does not yet see when Romania may exit the ongoing crisis and believes that the horizon...

The European Commission has adopted a package of legislation to strengthen financial supervision in the European Union as the ongoing financial crisis has revealed the weaknesses of the European supervision system, according to Commissioner for...

The Authority for the Recovery of State Assets failed in its attempt to sell the stake it holds in Moldoplast Iaşi (MLPL, listed on the Rasdaq tier of the Bucharest Stock Exchange).

Situation remained tense yesterday at ICA Ghimbav (manufacturer of aircraft and spacecraft), as the company"s general manager, Traian Tomescu, was not allowed to enter the company"s headquarters by angry workers demanding the payment of...

The International Monetary Fund believes it is too early for governments to terminate bail-out efforts focused on their ailing financial sectors, but authorities need to coordinate their strategies on how to step back from their interventions,...

Volksbank Romania and Piraeus Bank Romania have joined the clearing-settlement and registry system of the Central Depository. Volksbank Romania has also acquired the capacity of custodian agent, according to a press release from the Central...

The economic crisis and the nearly complete gridlock on the real estate market have serious affected real estate agencies in Romania. According to Adrian Erimescu, Managing Director of the real estate portal imobiliare.ro, approximately 40 per...

The agenda of the Bucharest City Council meeting scheduled for Friday includes the approval of 29 Urban Area Plans (PUZ), but Asociatia Salvati Bucurestiul (the Save Bucharest Association) has identified virtually all types of abuses against...

The IMF approved the second tranche of the loan given out to Romania (of 1.85 billion Euros), following its first evaluation of the country as spart of the foreign loan agreement. Half of the money will go to the forex reserves of the NBR, with...

The State Assets Recovery Authority (AVAS) has failed to sell its holding in Moldoplast - Iaşi (RASDAQ:MLPL). According to the Communication Department of AVAS, no one bought a tender book and no bidder attended the auction organized for this...

Romania was a net beneficiary of the EU budget (EU), by receiving 2.912 million Euros, compared to its contribution in Euros amounting to 1.017 million Euros, according to the report on the EU budget for the year of 2008, presented yesterday by...

Sanofi Aventis Europe, the majority shareholder in Zentiva Romania (BSE:SCD) bought an additional 3.4 per cent in the Romanian pharmaceutical company for 9.9 million RON through a public offering organized between 12 August and 22 September,...

A delegation of eleven U.S. businesses with expertise in the nuclear power industry visited Romania"s Cernavoda Nuclear Plant yesterday.

The latest statistical data about the construction industry indicate that the crisis in Romania will prolong, according to analysts from X-Trade Brokers.

The decision to reshuffle Education Minister Ecaterina Andronescu remains valid, unless she gives up the order concerning the appointment of head teachers, Prime Minister Emil Boc said at the end of the ruling coalition meeting on Monday.

GarantiBank offers its customers a flexible grace period of three months, in which they will pay no interest rate or fees, for all loans taken out until December 31st 2009, according to a press release by the bank.

Piraeus Bank România yesterday cut the interest rate for new Happy End personal consumption loans denominated in lei by as much as 2.75%, and announced it would cut rates for current loans in October, according to a press release sent by the bank.

In the first six months of 2009, Romanian consumers went shopping to supermarkets just as often as in the corresponding period of 2008, although supermarkets did lose some of their customers to hypermarkets and discounters, especially in...

The transition period for milk farms and dairy factories will be extended by two years, while the milk produced by entities undergoing the transition process can only be marketed in Romania, the Ministry of Agriculture announced in a press...

In theory at least, the new law should help bring lower prices in supermarkets.

The Roman Catholic Archdiocese of Bucharest (ARCB) yesterday announced it would demand 22 million Euros in damages in court from the Ministry of Culture, for failing to delimit and register in the cadastral plans the protection perimeter of the...

The U.S. authorities are investigating the acquisition of Merrill Lynch by Bank of America Corp., the Charlotte Observer reported.

Banca Comerciala Romana (BCR) and Intesa Sanpaolo are the best banks to go to for a mortgage loan, considering the low costs, the competitive down payment limits (down to zero per cent at BCR and down to 15 per cent at Intesa Sanpaolo) and the...

The Fraud Department of the General Inspectorate of the Romanian Police (IGPR) has received 34 fraud complaints concerning property in newly built residential complexes since the beginning of the year, IGPR representatives told BURSA.

The consumer banking division of UniCredit SpA, the largest bank in Italy, probably reached rock bottom in the crisis curve in the third quarter of 2009 and depends on the speed of economic recovery and higher interest rates in order to improve...

The Ministry of the Economy, the main shareholder of "Avioane Craiova", decided on the terms of the program for the restructuring of the company, according to a press release sent to the Bucharest Stock Exchange on Friday.

Work on Polus Center Constanţa, a project developed by TriGranit with an estimated cost of 140 million Euros, picked up speed starting at the end of June, when construction resumed at full capacity.

King Sturge provided technical advice to British fund Tri Investments ERPF for the residential complex Perla Residence in Pipera, which was acquired for 15.5 million Euros.

Romania has had a plan for equipping its army for a few years now. Said plan is still waiting for the approval of the Supreme Council of Defense (CSAT).

The Romanian defense industry is currently struggling for survival, according to Mr. Sebastian Vlădescu, shareholder of "Lord Expert", defense consultancy company.

The value of all arms transfer agreements worldwide, to both developed and developing nations, reached 55 billion USD last year, down by 7.6 per cent from 2007, according to the latest report by the Federations of American Scientists (FAS) on...

All the great mythologies, all the fundamental books of the religions testify that the "historical" world begins with a conflict in which at least one of the parties uses a weapon to cause the demise of their competitor, the result being...